India advertising revenue growth forecast for 2022 is 15.8 pc, with that figure further accelerating to 16.8 pc in 2023, according to GroupM’s This Year Next Year 2022 Global End of Year Forecast.
The report stated that the growth is led by pure-play digital advertising, which accounts for the largest share (48.8 pc) in 2022 and is expected to continue rising above pre-pandemic levels. Retail media in India is forecast at $551 million in 2022 and is expected to nearly double by 2027. TV advertising, representing 36 pc of advertising market share, is expected to grow 10.8 pc this year and continue growing double digits, driven by strong growth in both traditional and connected TV.
As per the report, the global advertising to grow 5.9 pc in 2023, behind the IMF’s expectation for global inflation of 6.5 pc and a downgrade from the 6.4 pc June estimate, stated
Globally, the retail media, one of the fastest growing segments of the advertising industry, is estimated to reach $110.7 billion dollars in 2022, an upgrade from GroupM’s September forecast of $101 billion.
“Television continues its recovery to pre-pandemic levels, albeit more slowly in 2022, with an expected global growth rate of 1.7% (excluding U.S. political advertising),” states the report.
